The new office will focus on departments responsible for sports, fashion, and other various entertainment industries.
Japan’s Ministry of Economy, Trade and Industry, also called METI, has recently announced that it would be rolling out its own Web3-based Policy Office in the Minister’s Secretariat.
According to the official announcement issued on July 15th, the new office will bring the departments responsible for the corporate system, taxation, and industrial finance. On top of that, the initiative will supposedly boost the framework for inspecting business environment issues related to Web3.
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The official report also read that the purpose of the Web3 Policy Office is to display the importance of crypto-assets and non-fungible tokens (NFTs), as well as to provide Web3-driven organizations more opportunities in Japan.
"METI has launched a team (the Web 3.0 Policy Office) to formulate policies through concerted efforts by the several departments responsible for Web3.0, which are currently dispersed among different bureaus within the Ministry."
The new project will work shoulder to shoulder with investors, legal professionals, and other significant parties in order to gather data about the potential issues that Japan's business ecosystems are currently facing.
Earlier in July, the University of Tokyo announced a series of educational programs aimed at a broader audience and taking place in the metaverse. The project's goal is to provide education about the lack of skilled employees in the digital transformation field.
On another note, it seems as though numerous crypto-driven organizations are delving into the Web3 space and exploring its possibilities. For instance, last week, Animoca Brands, Alien Worlds, The Sandbox, Space, Dapper Labs, Upland, and Voxels joined forces to create the Open Metaverse Alliance to focus on decentralization, transparency, democratization, and inclusiveness.
